Report: Obama in discussions to produce shows for Netflix

Updated 9:02 pm, Friday, March 9, 2018

Photo: Charles Rex Arbogast, AP

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FILE - In this Oct. 13, 2017 file photo, former President Barack Obama, right, and former first lady Michelle Obama arrive for the first session of the Obama Foundation Summit in Chicago. Barack Obama and Netflix reportedly are negotiating a deal for the former president and his wife, Michelle, to produce shows exclusively for the streaming service. The proposed deal was reported Friday, March 9, 2018, by The New York Times, which cited people familiar with the discussions who were not identified. less

FILE - In this Oct. 13, 2017 file photo, former President Barack Obama, right, and former first lady Michelle Obama arrive for the first session of the Obama Foundation Summit in Chicago. Barack Obama and ... more

Photo: Charles Rex Arbogast, AP

Report: Obama in discussions to produce shows for Netflix

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LOS ANGELES (AP) — Netflix shares surged to an all-time high following the news that Barack Obama and Netflix reportedly are negotiating a deal for the former president and his wife, Michelle, to produce shows exclusively for the streaming service.

The proposed deal was reported Friday by The New York Times, which cited people familiar with the discussions who were not identified.

The report sent shares to an all-time high of $326.74 earlier. The Los Gatos, California, company's stock reached $326.07 in afternoon trading, marking a gain of nearly 3 percent.

Netflix did not respond for a request for comment. Obama spokeswoman Katie Hill declined comment on the report.